UMB Bank n.a. Grows Stock Position in Packaging Co. of America (NYSE:PKG)

UMB Bank n.a. lifted its position in Packaging Co. of America (NYSE:PKG) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,165 shares of the industrial products company’s stock after acquiring an additional 44 shares during the period. UMB Bank n.a.’s holdings in Packaging Co. of America were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PKG. Sanctuary Advisors LLC grew its holdings in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares in the last quarter. Principal Financial Group Inc. grew its stake in Packaging Co. of America by 8.4% during the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after acquiring an additional 35,614 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Packaging Co. of America by 227.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock valued at $6,945,000 after acquiring an additional 22,397 shares during the last quarter. Citigroup Inc. lifted its stake in Packaging Co. of America by 30.7% in the 3rd quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after purchasing an additional 27,018 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Packaging Co. of America by 256.3% during the 3rd quarter. Quest Partners LLC now owns 7,729 shares of the industrial products company’s stock worth $1,665,000 after purchasing an additional 5,560 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial increased their price target on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Citigroup lifted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 in the last three months. 1.70% of the stock is owned by company insiders.

Packaging Co. of America Price Performance

Shares of PKG opened at $239.90 on Thursday. The firm has a 50-day simple moving average of $235.69 and a two-hundred day simple moving average of $218.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The stock has a market cap of $21.54 billion, a PE ratio of 27.96, a P/E/G ratio of 2.34 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts forecast that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.